Creates the jockey health insurance reserve fund for the payment of premiums not yet paid; provides for the return of funds if such reserve fund becomes no longer necessary.
Summary
S02618 amends New York’s racing, pari-mutuel wagering and breeding law to create a jockey health insurance reserve fund tied to video lottery gaming revenue at thoroughbred tracks. The bill requires franchised racing corporations to continue administering health insurance for eligible jockeys and to deposit 1.5% of the gross purse enhancement amount from video lottery gaming into a segregated account for that purpose.
The bill also adds flexibility for any unused money in the health insurance account. After reserving enough to cover anticipated premium liabilities for the next 60 days, remaining funds may be returned pro rata to be used to enhance purses, deposited into a newly authorized reserve fund for unpaid premiums, or split between those two uses. Decisions about how to distribute unused funding must be made by agreement between the franchised corporation and the jockey organization representing at least 51% of eligible jockeys. The bill further allows an alternative funding source for the insurance program, subject to approval by the gaming commission, with a corresponding return of video-lottery-derived funds up to the amount of the alternative contribution.
Impact
The bill amends section 221-a of the racing, pari-mutuel wagering and breeding law and indirectly interacts with tax law provisions governing video lottery gaming revenue at thoroughbred tracks. It creates a new segregated reserve fund for unpaid health insurance premiums for jockeys, establishes rules for funding and use of unused balances, and authorizes negotiated alternatives that can reduce the amount of video-lottery money retained for insurance if another approved funding source is provided. The measure affects franchised racing corporations, jockey organizations, and the allocation of purse enhancement funds at thoroughbred tracks.
Sentiment
The available voting history suggests broad support for the bill. It passed the Senate Racing, Gaming and Wagering Committee unanimously and later passed the Senate floor overwhelmingly, including a 59-0 vote and a later 58-1 vote. The lack of recorded committee opposition or transcript debate indicates the proposal was generally viewed favorably as a targeted support measure for jockey health coverage and racing industry administration.
Contention
The main policy issue in the bill is how unused insurance funding should be handled. The bill shifts from an automatic return of unused money to a negotiated approach that can send funds back to purse enhancement, place them in a reserve fund, or do both, with the jockey organization representing a majority of eligible jockeys required to agree. Another potential point of contention is the use of racing-related revenue for health insurance versus purses, though the bill preserves the ability to return funds to purses and allows alternative funding arrangements if approved by the commission. No significant opposition is reflected in the available votes.
Same As
Creates the jockey health insurance reserve fund for the payment of premiums not yet paid; provides for the return of funds if such reserve fund becomes no longer necessary.
Creates the jockey health insurance reserve fund for the payment of premiums not yet paid; provides for the return of funds if such reserve fund becomes no longer necessary.
Authorizes the village of Mayville to transfer the funds of the Mayville ambulance reserve fund and the Mayville fire and rescue equipment reserve fund to the newly formed North Lake Fire District reserve accounts.
Authorizes the village of Mayville to transfer the funds of the Mayville ambulance reserve fund and the Mayville fire and rescue equipment reserve fund to the newly formed North Lake Fire District reserve accounts.
Permits the establishment of reserve funds for unanticipated costs relating to special education, provided that the amount in such fund shall not exceed four percent of the district's current school year budget.
Permits the establishment of reserve funds for unanticipated costs relating to special education, provided that the amount in such fund shall not exceed four percent of the district's current school year budget.
Provides that from April 1, 2025 to March 31, 2026, twenty-three percent of funds in the Catskill off-track betting corporation's capital acquisition fund shall be made available for certain past due obligations; requires such corporation to submit an expenditure plan for approval before accessing such funds.
Provides that from April 1, 2025 to March 31, 2026, twenty-three percent of funds in the Catskill off-track betting corporation's capital acquisition fund shall be made available for certain past due obligations; requires such corporation to submit an expenditure plan for approval before accessing such funds.